Inter owner Massimo Moratti signed a deal yesterday to sell a 70 per cent stake in the Italian soccer club to a group lead by Indonesia’s Erick Thohir after months of negotiations with the business tycoon.

Thohir, who is part owner of Major League Soccer club DC United and basketball team the Philadelphia 76ers, heads a three-person consortium taking control of the former Italian champions.

Italian media have previously said Thohir might be willing to pay up to €350 million for up to 75 per cent of the cash-strapped Serie A club.

“Everything’s been signed,” Moratti told reporters outside his offices in Milan, without giving any details on the price.

Inter, a loss-making club with debts of about €300 million, are traditionally one of the three biggest clubs in Italian soccer with Juventus and city rivals Milan.

They have not won a trophy since 2010 and finished a disappointing ninth in Serie A last season, missing out on a place in the lucrative UEFA Champions League.

Inter stand fourth in the Italian league in the early stages of the current season.

Moratti, who has been in charge of Inter since 1995, said he was not sure if he would stay on as club president under the new ownership.

“If I can be useful I will continue,” he told reporters.

His father Angelo Moratti owned the club in the 1960s when Inter won the European Cup twice.